dan. [applause] >> thank you, david, for that kind intro. it was just 14 months ago that i started and 40 month ago since i gave my first speech here in this building. it seems like yesterday, but i think that speech shows how important it is her sec commissioners to get out and about. so i'm pleased to be here this afternoon addressing such strong supporters of american global leadership in capital formation, which is of course one of the foremost goals at the commission. and before i continue, as you all know i must tell you my remarks today are my own, and do not necessary to represent the views of the commission or fellow commissioners. and you're about to find out w why. [laughter] as i'm sure you're all aware, next monday the nation will observe both the inauguration and martin luther king, jr.'s birthday. what you may not be aware of is that monday also is that money also worked for two and a half year anniversary of the enactment of the dodd-frank act. to commemorate the occasion, i'd like to take a few moments today to talk about th